Radio Atlantic, IA – AM 1220

State leaders keeping secret about Project X, with $2B potential

November 1st, 2012 by Ric Hanson

(Updates 10:10-a.m. with Press Conference at 4-p.m.)

State leaders are meeting in secret today (Thursday) to discuss plans to lure in a big business using only a code-name. Iowa economic development officials are only referring to the possible new recruit as “Project X.” They’re not saying anything about what the company does, either. We have been told it may have an economic impact as big as two-billion dollars. Iowa’s also reportedly in the running with Nebraska for a large data center that’s said to be worth one-and-a-half billion.

Gov. Branstad, Lt. Gov. Reynolds and Iowa Economic Development Authority Director Debi Durham will hold a joint news conference this afternoon at 4 p.m. in Sioux City, to discuss the large capital investment for the state of Iowa.

Back in September, state officials approved a 110-million dollar incentive package for an Egyptian firm that promises to build a one-point-four billion dollar fertilizer plant in southeast Iowa’s Lee County.